Monthly Regulatory Compliance Change Management Summary
The October Regulatory Compliance Change Management Summary is linked for your reference. November’s Regulatory Compliance Change Management conference call will take place on Tuesday, November 26th at 3pm EST. To register for the call, please email compliancechgmngt@cenlar.com. For your convenience, the session will be recorded and made available to clients who are unable to … Continued
End-of-Year Notification Schedule
As the year quickly comes to a close, we would like to share important information about the 2019 year-end schedule for new loan boarding and transfer activity. Please review the details here: To allow time for year-end processing, there will be a technology and transfer “blackout”* period scheduled from 12/16/19 through 1/3/2020. During this time, … Continued
Cenlar understands the care you take as the steward of original loan documents. To that end, we want to let you know that we have recently seen an increased volume of original loan documents being sent to several of our locations. Please know that after closing, original documents, including Notes, Mortgages, Deeds of Trusts, Title … Continued
California Military Financial Relief Act
The California Military Families Financial Relief Act (the “Act”) offers protections to military reserve personnel, independent of SCRA benefits. Qualifying members of the United States Military Reserve and National Guard in the state of California who are called to active duty may request a temporary deferment of their mortgage payments. Ginnie Mae (GNMA) has advised … Continued
Monthly Regulatory Compliance Change Management Summary
The September 2019 Regulatory Compliance Change Management Summary is linked for your reference. October’s Regulatory Compliance Change Management conference call will take place on Tuesday, October 29th at 3pm EST. To register for the call, please email compliancechgmngt@cenlar.com. For your convenience, the session will be recorded and made available to clients who are unable to attend. … Continued
In observance of the Columbus Day Holiday, Cenlar’s offices will be closed on Monday, October 14, 2019. Any files received on Monday, October 14th, will be processed the night of Tuesday, October 15th, and output will be available the morning of Wednesday, October 16th.
Cenlar is Migrating to the Cloud
October 1, 2019 The purpose of this advisory is to let you know that Cenlar is moving data center infrastructure services to the Cloud. We have selected Microsoft Azure, the largest Cloud provider in the world, as our hosting partner. Clearly, the Cloud has advantages for Cenlar, and in turn, our clients. The chief benefit … Continued
August 12, 2019 Cenlar is pleased to announce that we have changed our procedure for gathering Telephone Consumer Protection Act (TCPA) consent. After careful consideration of our requirements and controls, we will no longer provide the TPCA consent disclosure to borrowers on every call. Going forward the disclosure will only be presented to borrowers once … Continued
Updates to Fannie Mae Borrower Requested PMI Removal
August 21, 2019 In response to Fannie Mae’s Lender Letter LL-2018-03, effective September 1, 2019, Cenlar’s Mortgage Insurance Department will be revising the process borrowers need to follow to request Private Mortgage Insurance (PMI) removal. Fannie Mae expects that these new requirements will provide an improved customer experience for borrowers and servicers. Alignment with the … Continued
REMINDER: IRCI – Freddie Mac Loan Sales
September 4, 2019 As a reminder, Freddie Mac is going to begin assessing compensatory fees for Master File Changes, Post-Funding Corrections and Data Corrections. For loans being sold to Freddie Mac, please ensure the fields referenced in the initial advisory are accurately delivered to avoid a fee of $500 per loan. Details from the May … Continued